SAN RAFAEL, CA, Aug 28, 2019 – Autodesk, Inc. reported financial results for the second quarter of fiscal 2020. This quarter’s revenue stood at $796.8M, 8% up compared to $735.5M of first quarter of fiscal 2020, with a profit of $40.2M.
“We closed a solid first half of the year with a very strong second quarter as revenue, billings, earnings, and free cash flow came in ahead of expectations,” said Andrew Anagnost, Autodesk president and CEO. “ARR grew to a record $3.1 billion, driven by all parts of the business. Construction demonstrated continued strength with wins across all parts of the portfolio, and Fusion 360 – our design-to-manufacturing platform – continued to build momentum. We also made further strides in capturing opportunities within our non-paying user base. In an environment of increasing uncertainty, we believe we are well-positioned to achieve our FY23 goals.”
“Our strong performance during the second quarter helped us achieve two milestones,” said Scott Herren, Autodesk CFO. “First, we drove our largest quarterly non-GAAP net income to date, followed by a record setting last twelve months free cash flow of $731 million. While we continue to execute well and are not materially impacted by current trade tensions and macro uncertainty, we are taking a prudent stance to our second half fiscal 2020 outlook. Despite these near-term headwinds, our recurring revenue model is much more resilient than in prior cycles.”
A complete chart of the financial results is available here.
Autodesk makes software for people who make things. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you’ve experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything.
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